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tracy: the fiscal cliff very well might be averted but obamacare is here to say. medical device tax is here to stay. what you said earlier, the whole notion that might be a taboo industry is here to stay too. >> don't know about the ken duke industry. tracy: attached industry. >> i have a balanced view of the affordable care act. as a physician i have to say i am pleased that thirty million more people or so are going to have access to basic health care coverage. i don't think you can have a civilized country without affording that to your citizens so right away i am supportive of that the industry we are supportive of that and on the other hand there are aspects that are disturbing. there's a provision that many people don't know about called the independent payment advisory board which is going to be an unelected group of people charged with cutting costs but without necessarily having a strategy. tracy: all these unintended consequences of obamacare and we wish we had more time to talk about them. thanks for being here. i hope they are listening to you. ashley:
tracy: the fiscal cliff very well might be averted but obamacare is here to say. medical device tax is here to stay. what you said earlier, the whole notion that might be a taboo industry is here to stay too. >> don't know about the ken duke industry. tracy: attached industry. >> i have a balanced view of the affordable care act. as a physician i have to say i am pleased that thirty million more people or so are going to have access to basic health care coverage. i don't think you...
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Dec 17, 2012
12/12
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we have a fiscal cliff survivals set for you. joining us now with how to prepare is the chief tax officer. i am reading through the nose and one of the biggest pieces of advice you have got is filing a tax return as soon as possible. how can i do that when someone just changing? >> many people think as soon as i file, have to pay, but the reality is the earlier you file, you get a refund like 75% of americans do, $2800, you get that money. we still don't have to pay until april 15 so filing early has no downside. the problem of id theft and crime, those are early-season tax crimes were people still your name and social security number and profile. if you file early, you effectively lock them out. dennis: in the media coverage of this, also talking about is a tax rate increase on the rich but you say far more than just the rich are affected by this. >> there is a preponderance of focus on the impact of the rich and there is the increasing tax rates they're talking about. the impact of the fiscal cliff is a 2012 issue for taxpayers
we have a fiscal cliff survivals set for you. joining us now with how to prepare is the chief tax officer. i am reading through the nose and one of the biggest pieces of advice you have got is filing a tax return as soon as possible. how can i do that when someone just changing? >> many people think as soon as i file, have to pay, but the reality is the earlier you file, you get a refund like 75% of americans do, $2800, you get that money. we still don't have to pay until april 15 so...
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Oct 19, 2012
10/12
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lou: writing a letter to the white house and congress warning about the fiscal cliff. that the tax increase is coming and the spending cut taking effect at the end of the year. the consequences of inaction for stability in the global market for economic growth. millions of americans still without work. let's bring in cabin, market strategist. are you confident this will happen after the election? >> we are kind of running out of time on this. we are rapidly approaching the debt limit. probably february or march would be a reasonable guess when you had that. it will and the outcome election, not only for the president, but in senate that will be a key ingredient whether we move smoothly during that period of time. dagen: when something does get done to at least take care of this in the short run that it will be a permanent fix? it will surely be temporary which just moved these problems down the road for another year or even two years. >> it is always temporary until the next one. we have had 60, 70, 80 episodes where we automatically raise the debt limit. it is not abo
lou: writing a letter to the white house and congress warning about the fiscal cliff. that the tax increase is coming and the spending cut taking effect at the end of the year. the consequences of inaction for stability in the global market for economic growth. millions of americans still without work. let's bring in cabin, market strategist. are you confident this will happen after the election? >> we are kind of running out of time on this. we are rapidly approaching the debt limit....
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Sep 24, 2012
09/12
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cheryl: you are not worried about the fiscal cliff, dividend taxes going up? >> i am. i think that is an issue. it is better than getting no percent. cheryl: hopefully our lovely men and women in washington will get it figured out. 9.88% gain for procter and gamble. >> they make things that we use everyday that we don't even know we are using. the bigger issue is as investors are looking for ways to plate the future. you have to look at getting paid while the company is growing. cheryl: i want to show our viewers how the dollar, nasdaq and s&p are doing right now. do you think the market can sustain the rally into november? >> i think we will get volatility. i think investors, especially retail investors, need to get used to this. six-nine months now it is very likely we will start focusing on the fixes to the fiscal cliff. cheryl: we will talk about ge and intel once again in six months. dennis: a twitter faux pas at microsoft involving a snippy snipe agent. it started when liberal economist tweeted he was visiting his granddaughter and will be on this week with coult
cheryl: you are not worried about the fiscal cliff, dividend taxes going up? >> i am. i think that is an issue. it is better than getting no percent. cheryl: hopefully our lovely men and women in washington will get it figured out. 9.88% gain for procter and gamble. >> they make things that we use everyday that we don't even know we are using. the bigger issue is as investors are looking for ways to plate the future. you have to look at getting paid while the company is growing....
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Dec 19, 2012
12/12
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can you give us a candid update, are we likely to go over the fiscal cliff? >> first of all there is no reason why we should. remember what i said during the campaign, i thought it was important for us to reduce our deficit in a balanced and responsible way. i said it was important for us to make sure that millionaires and billionaires pay their fair share. i said that we were going to have to make some tough cuts, some tough decisions on the spending side, but what i would not do was hurt vulnerable families only to pay for a tax cut for somebody like me. and what i said was the ultimate package would involve a balance of spending cuts and tax increases. that is exactly what i put forward. what i have said is in order to arrive at a compromise, i am prepared to do some very tough things. some things that some democrats don't want to see and probably few republicans don't want to see either. but the only way that we are going to be able to stabilize the economy, make sure we have a platform for long-term economic growth that we get our deficit under control,
can you give us a candid update, are we likely to go over the fiscal cliff? >> first of all there is no reason why we should. remember what i said during the campaign, i thought it was important for us to reduce our deficit in a balanced and responsible way. i said it was important for us to make sure that millionaires and billionaires pay their fair share. i said that we were going to have to make some tough cuts, some tough decisions on the spending side, but what i would not do was...
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Dec 10, 2012
12/12
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cliff, the president is in detroit to speak at a diesel engine plant about the fiscal cliff. he'll talk at detroit diesel which is owned by germany's daimler, on extending middle class tax cuts for workers to keep pressure on republicans to cave on this issue, this after the president and speaker boehner met at the white house yesterday. a spokesperson for boehner says today, quote: discussions with the white house are taking place, but we have no detail to share about the substance of these conversations. he adds that republicans are waiting on specific spending cut proposals from the president to get a deal on the fiscal cliff. but a few republicans now say that maybe the best strategy for them is to accept some higher tax rate that is the president is demanding, get that off the table and then come back to entitlement reform early next year when the president asks for an increase in the debt ceiling. then republicans will have a little more leverage. >> there's a hardening on the republican side. we're not going to raise the debt ceiling. we're not going to let obama borro
cliff, the president is in detroit to speak at a diesel engine plant about the fiscal cliff. he'll talk at detroit diesel which is owned by germany's daimler, on extending middle class tax cuts for workers to keep pressure on republicans to cave on this issue, this after the president and speaker boehner met at the white house yesterday. a spokesperson for boehner says today, quote: discussions with the white house are taking place, but we have no detail to share about the substance of these...
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Dec 13, 2012
12/12
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a lot of other things in the fiscal cliff. i'm assuming as i say that, they don't just get rid of the mortgage deductability and not touch the rest of the tax code. obviously that would be really bizarre. housing has turned around. it's beginning to gain. the september data we saw, this is the point in the air when things begin to get soft because of the fall season and everything. tracy: sure. >> prices continue to rise. on a national basis and in most of the cities it resolved which is clear plus. the other reports, housing starts were up very sharply the last report. sales are doing better. sales of new homes are doing better. across the board most reports, not every report every month but just about all the data we're see something positive. and housing, housing is actually making a contribution to the economy. not like we would like but i think we'll take anything we can get. ashley: obviously the economy is so reliant on the consumer a big part of the economy. can they support the recovery? >> i think they can sort of ke
a lot of other things in the fiscal cliff. i'm assuming as i say that, they don't just get rid of the mortgage deductability and not touch the rest of the tax code. obviously that would be really bizarre. housing has turned around. it's beginning to gain. the september data we saw, this is the point in the air when things begin to get soft because of the fall season and everything. tracy: sure. >> prices continue to rise. on a national basis and in most of the cities it resolved which is...
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Sep 11, 2012
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. >> the package of tax breaks would not avoid the fiscal cliff, but the usual grab bag of so-called tax extensions that congress approves pretty much every year, big ones like patching the al ten -- alalternative minimum tax, but thanks to big time lobbyists and lawmakers from both parties who want to help companies back home, there are plenty of special interest tax breaks in the package, $78 million, for example, for auto racetrack owners for faster writeoffs of investments, and $248 million for movie and tv studios to keep production in the u.s. when other countries over deals, and deals for electric powered motorcycles to encourage energy goals. they justify all of them, of course, and it's hard to get rid of them. >> only right before an election, last thing members of congress want to do is talk about eliminating tax breaks that others claim help create jobs. >> get this, supporters claim they did get rid of some breaks, 21 provisions including that notorious tax credit for electric golf carts. the package passed the senate finance committee 19-5, six republicans in favor, dri
. >> the package of tax breaks would not avoid the fiscal cliff, but the usual grab bag of so-called tax extensions that congress approves pretty much every year, big ones like patching the al ten -- alalternative minimum tax, but thanks to big time lobbyists and lawmakers from both parties who want to help companies back home, there are plenty of special interest tax breaks in the package, $78 million, for example, for auto racetrack owners for faster writeoffs of investments, and $248...
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Dec 13, 2012
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>> the whole thing with the tax increase is a red herring for the fiscal cliff discussions because we need entitlement reform. people have spoken and are not interested in anything. their focus is tax the riff, but people are going to make decisions, but that's put off into the future. you will still see momentum from a positive housing cycle, all the things the fed are doing, catch up? eventually hurt the economy, hurt in a very big way, but not out of the gate. cheryl: 25% of gdp spent, and you say it's going higher and we have a spending problem. >> i totally believe wholeheartedly independent, absolutely in the g.o.p. camp. this whole discussion is absolute crazy. that 25% is going to 40%, and increasing taxes on the riching thing -- accounts for nine days of spending. craziness. cheryl: we have a president who is in the financially responsible, and that, in your opinion, the g.o.p. will cave more than they want to because they know they will get blamed if we get down to new year's eve and there's no deal. >> the world has spoken. tax the rich, keep the ball, there's nothing that'
>> the whole thing with the tax increase is a red herring for the fiscal cliff discussions because we need entitlement reform. people have spoken and are not interested in anything. their focus is tax the riff, but people are going to make decisions, but that's put off into the future. you will still see momentum from a positive housing cycle, all the things the fed are doing, catch up? eventually hurt the economy, hurt in a very big way, but not out of the gate. cheryl: 25% of gdp spent,...
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Dec 14, 2012
12/12
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concerns about consumer confidence, the fiscal cliff, and rising taxes. so putting in those three elements, the stock down nearly 9%. back to you. ashley: all right. thanks you so much. tracy: coming at, what is the most important news the market is watching next week? we will weigh in on that next. ashley: but first, take a look at some of today's winners and losers. ♪ copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still ha
concerns about consumer confidence, the fiscal cliff, and rising taxes. so putting in those three elements, the stock down nearly 9%. back to you. ashley: all right. thanks you so much. tracy: coming at, what is the most important news the market is watching next week? we will weigh in on that next. ashley: but first, take a look at some of today's winners and losers. ♪ copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically...
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Sep 10, 2012
09/12
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it is very unlikely congress resolves anything on taxes, fiscal cliff, post office reform, or the farm bill. and a top house republican blames it on the senate and says it is all democrats. >> the u.s. congress has been working quite a bit. it's the u.s. senate that's been stopping everything. so we don't know how much comes to fruition, but we do know we will get things through the house, but when it gets to the senate -- [inaudible]. rich: democrats say it is the republicans fault. in an op-ed in politico, it says since president obama took office republicans have done little but obstruct and delay. democrats have offered their plans. republicans theirs. neither sees the political benefit of negotiating any of this until they know who wins in november. connell: rich, thank you. rich edson in d.c. for more, let's bring douglas holtz-eakin in, former cbo director, also in washington. it's almost a joke to us after a while, they are not going to get anything done, but is there anything -- is there a headline that we can say out of this session of congress say hey at least they did this
it is very unlikely congress resolves anything on taxes, fiscal cliff, post office reform, or the farm bill. and a top house republican blames it on the senate and says it is all democrats. >> the u.s. congress has been working quite a bit. it's the u.s. senate that's been stopping everything. so we don't know how much comes to fruition, but we do know we will get things through the house, but when it gets to the senate -- [inaudible]. rich: democrats say it is the republicans fault. in...
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rates. >> that seems to be the key to this entire fiscal cliff mess. president obama saying the roundtable was struck by ceo's willingness to pay higher taxes and patriotic duty and the president also talked about speculation they may want another death to inflate next year. he has to break that habit before it starts though it is of course up to congress to raise the debt ceiling by passing along. thank you. dennis: our next guest says they have the perfect solution for the financial woes. joining us now, one of those critical of the house speaker. thank you for being with us. let's just cut to the chase, what is your fix, sir? >> when you think fair share to the president's administration says, think flat tax. the president talks about warren buffett should pay with his secretary pays, but he is not proposed a single idea that will make that happen. we have the perfect idea. you want them to pay the same rate, i want them to pay the same rate, but i have a way to do it. you give a 15% flat tax on income taxed, capital gains, gift tax, to put it acros
rates. >> that seems to be the key to this entire fiscal cliff mess. president obama saying the roundtable was struck by ceo's willingness to pay higher taxes and patriotic duty and the president also talked about speculation they may want another death to inflate next year. he has to break that habit before it starts though it is of course up to congress to raise the debt ceiling by passing along. thank you. dennis: our next guest says they have the perfect solution for the financial...
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Dec 10, 2012
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all right, stocks closely watching the fiscal cliff talks. coming up, chief investment officer will tell us what will happen if there is a deal where if there is no deal. ashley: michael bloomberg crack a joke the only people buying egos. he could soon become one of those. as it everyday at this time, take a look at how oil is trading moving slightly lower even though the suggestion demand from china is off, oil down slightly by $0.10, 85.83 per barrel. tracy: it is time to make some money with charles payne. this hour he is looking at online networking site linked in. getting a little bounce, but has been on a tear. charles: this is a incredible stock. you put six flights out of business. i'm telling you right now. today part of the reason it is up, kind of odd, some sort of stock speculation mayor bloomberg may be interested in doing something, taking it over. even without that, this is a stock i like a lot. at least the third time this year my subscribers are in a stock. the latter earning report my two cents coby district by 100%, the sto
all right, stocks closely watching the fiscal cliff talks. coming up, chief investment officer will tell us what will happen if there is a deal where if there is no deal. ashley: michael bloomberg crack a joke the only people buying egos. he could soon become one of those. as it everyday at this time, take a look at how oil is trading moving slightly lower even though the suggestion demand from china is off, oil down slightly by $0.10, 85.83 per barrel. tracy: it is time to make some money with...
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what does the election mean in terms of a fiscal cliff and the extension of the bush tax cuts. in that regard i don't think it matters as much as people think it does. at the end of the day because the economy is so weak and the chance of a recession is so high that congress and the administration regardless of who wins the election will come together and extend the bush tax cuts for the least the year. dennis: one last entry in five seconds. mitt romney or obama? which one wins? >> i am going with obama but just by a hair but it is changing. dennis: thanks for being with us. cheryl: the president's speech blew up on twitter. 53,000 tweets in one minute. twitter tells us that is a record for a political event but that is not all. that democratic convention overall in its final day as the republicans did over the course of three days. stuart: dennis: simple your demographics. if you look at the ratings the democrats have twice the percentage of 18-34-year-old viewers. cheryl: they love their twitter. i love apple tv. no i don't. i like my mac. dennis: you have been waiting for t
what does the election mean in terms of a fiscal cliff and the extension of the bush tax cuts. in that regard i don't think it matters as much as people think it does. at the end of the day because the economy is so weak and the chance of a recession is so high that congress and the administration regardless of who wins the election will come together and extend the bush tax cuts for the least the year. dennis: one last entry in five seconds. mitt romney or obama? which one wins? >> i am...
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Oct 24, 2012
10/12
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if we fall off of the fiscal cliff it goes down two million. >> a lot about the income tax people need to take advantage of this window of opportunity to get the tax rates. as you are saying the lifetime exemption could go from $5,120,000 per person down to $1 million in january. same thing with the rates. the gift tax rate is 35% scheduled to go to 55% come january so it is really a time to think for your gifting strategy and whether to take advantage of the law. tracy: the estate tax mirrors the gift tax. >> so much planning for people who have money. they can really be benefiting from free gifting. >> a lot of consideration. lookit your financial situation. and gifting appreciated assets, and errors is a good idea right now. tracy: if you give to education and medical expenses send the check to the institution doesn't even bite into your exclusion. >> you have an annual exemption of $13,000 a year and if you decide to pay directly tuition or medical it will not count against the annual amount let alone a lifetime amount. tracy: anyone who needs something to do with their money on wi
if we fall off of the fiscal cliff it goes down two million. >> a lot about the income tax people need to take advantage of this window of opportunity to get the tax rates. as you are saying the lifetime exemption could go from $5,120,000 per person down to $1 million in january. same thing with the rates. the gift tax rate is 35% scheduled to go to 55% come january so it is really a time to think for your gifting strategy and whether to take advantage of the law. tracy: the estate tax...
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Aug 30, 2012
08/12
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, the fiscal cliff, not really a fiscal cliff, ashley, more like a fiscal slope, impact that. that will impact the market and will impact the investors going forward because i don't think that the markets, not that i'm a market-timer, i don't think they're actually embracing the impact of what these taxes are going to affect the markets overall in january. if we even have a fiscal slope hitting us. ashley: what in particular would be hurt by that, kimberly? >> i think that you're going to see the high income wage earners, basically be hit by the dividends, capital gains. these are going to be really impacted on the returns in the portfolios as well as you know, you've got the ultralow interest rates. my clients are really, really struggling to try and get that income so that they can, you know, basically pay the, increase in the food costs and increase in gasoline costs as well. ashley: you talk about the three ps of solid investment principles. what are those? >> yeah. you know what? what we try to do is protect the principle as we say going forward volatility is the new norm
, the fiscal cliff, not really a fiscal cliff, ashley, more like a fiscal slope, impact that. that will impact the market and will impact the investors going forward because i don't think that the markets, not that i'm a market-timer, i don't think they're actually embracing the impact of what these taxes are going to affect the markets overall in january. if we even have a fiscal slope hitting us. ashley: what in particular would be hurt by that, kimberly? >> i think that you're going to...
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Aug 22, 2012
08/12
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that fiscal cliff at the end of the year, spending gets cut automatically. the u.s. economy goes back into a recession. the congressional budget office thing just a short while ago. we have chief investment strategist at raymond james. the stock market near a 40 year high is certainly not acting like that will happen. >> it is the most hated riley. everyone seems to be unhappy. they are not a view -- they are not able to keep up with the joneses, the dow joneses. dagen: should, maybe the market is that word enough, the markets are not saying that. >> i think the markets are sniffing out when it comes to the final hour, what you will see a postponement of the cuts and an extensionush tax cuts. dagen: i am sure of it, where is your money going? >> retail investors have been retailing domestic equity retail fund since 2007. they are piling into bond funds. dagen: it is like two, three, $5 billion every week. astonishing. >> it is one of the reasons i think the stock market does better than most people believe. when the recession doesn't show up, i think you will see a s
that fiscal cliff at the end of the year, spending gets cut automatically. the u.s. economy goes back into a recession. the congressional budget office thing just a short while ago. we have chief investment strategist at raymond james. the stock market near a 40 year high is certainly not acting like that will happen. >> it is the most hated riley. everyone seems to be unhappy. they are not a view -- they are not able to keep up with the joneses, the dow joneses. dagen: should, maybe the...
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Oct 26, 2012
10/12
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we will be talking about the next fiscal cliff. that is the problem. i want longer-term decisions on the rules of the game, taxes up or down, however you want to do it, get those longer-term tight rules out there so on for burn ors and capitalists can play in the sand box. dennis: with taxes down is better than up. thank you very much. debate this. every day until the election we are debating issues that matter. we are halfway there. six down six to go. monday, health care with former each a s deputy secretary for white and christian dorsey, economic policy institute on monday, noon eastern. dagen: will east coast is bracing for a billion dollar megastorm. gale force wind, flooding, heavy rain and even snow expected in the next week as hurricane sandy makes when north currently traveling 6 miles an hour with maximum sustained winds of 80 miles an hour. sandy currently 460 miles southeast of charleston, south carolina. you are looking at a live map. tropical storm warning in effect for florida's east coast to flagler beach, adam shapiro tracking the lat
we will be talking about the next fiscal cliff. that is the problem. i want longer-term decisions on the rules of the game, taxes up or down, however you want to do it, get those longer-term tight rules out there so on for burn ors and capitalists can play in the sand box. dennis: with taxes down is better than up. thank you very much. debate this. every day until the election we are debating issues that matter. we are halfway there. six down six to go. monday, health care with former each a s...
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Sep 21, 2012
09/12
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avoiding a fiscal cliff. that is the small one out there doing something about the expiring bush tax cuts. spending cuts over ten years, sequestration and half in defense spending and also on the agenda and finished farm bill land reform of the postal system that house democrats and republicans sought to turn this recess thought to be one of the earliest in several decades into another issue on november 6th. >> since august 3rd when congress adjourned and november 14th, when we are called back into session, we have been in session only eight days. >> president obama won't work with us to urge senate democrats to take action. why? democrats have failed to lead. dennis: all the partisan gridlock in washington over issues big and small left this session of congress passing the fewest amount less legislation than many congresses, 173 so far compared to 500 or more in congress ten years ago and a lot of those bills naming commemorative coins and post offices. cheryl: peter barnes in washington with the job story.
avoiding a fiscal cliff. that is the small one out there doing something about the expiring bush tax cuts. spending cuts over ten years, sequestration and half in defense spending and also on the agenda and finished farm bill land reform of the postal system that house democrats and republicans sought to turn this recess thought to be one of the earliest in several decades into another issue on november 6th. >> since august 3rd when congress adjourned and november 14th, when we are called...
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Sep 24, 2012
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tracy: coming up, the fiscal cliff and the presidential election will greatly impact your tax bill. how you can start preparing for i. ashley: all right. but, first, let's take a look at some of today's winners and losers. check out google, up 2%. ashley: well, stocks and commodities in the red today, the dow now just getting into the positive side. of course, we had a downside last week, so how should you prepare for the week ahead and all this volatility? sandra smith has the details in today's trade. saab da? -- sandra? >> reporter: hey, ashley. goldman sachs is saying buy the dips because they're still very bullish according to their report. take a look at the commodity movers today, we're looking at the silver market. silver's been leading the way lower, it has been the worst performing commodity in today's session. copper prices have also been down. natural gas prices, crude prices taking a hit. actually, crude down for the fifth day off the the last six trading sessions, around bob gasoline also getting hit. food prices getting hit, soybean, corn, wheat prices, heating oil an
tracy: coming up, the fiscal cliff and the presidential election will greatly impact your tax bill. how you can start preparing for i. ashley: all right. but, first, let's take a look at some of today's winners and losers. check out google, up 2%. ashley: well, stocks and commodities in the red today, the dow now just getting into the positive side. of course, we had a downside last week, so how should you prepare for the week ahead and all this volatility? sandra smith has the details in...
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rates and regulations and the huge fiscal cliff facing us on january 1st by a totally irresponsible congress that threatens two million more jobs in the defense industry alone. tracy: we are hearing about lack of confidence for a while and no one has done anything about it and we are coming down to deadlines. the server 30 first is the big one for us and nothing has been done. wrapping these elections right now but do you think the election will make a difference? >> i don't know. there is such uncertainty to control? if ronny wins then i think there's more likelihood that something constructive will be done. at the moment we have an anti business government and small businesses are key to job creation. a government which will not control its spending doesn't even have a budget for the last four years. talk about uncertainty. not even the government knows what it is doing. it spews out tons of cash but all that cash instead of going into jobs is going into bank accounts of individuals and corporations and banks. there's plenty of cash. what is required is certainty and that certaint
rates and regulations and the huge fiscal cliff facing us on january 1st by a totally irresponsible congress that threatens two million more jobs in the defense industry alone. tracy: we are hearing about lack of confidence for a while and no one has done anything about it and we are coming down to deadlines. the server 30 first is the big one for us and nothing has been done. wrapping these elections right now but do you think the election will make a difference? >> i don't know. there...
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increase of obamacare, in the fiscal cliff, but when you look at data from the s&p you see the u.s. economy entering recession and you see that spike and the number of companies cutting dividends in 2009 at the height of the recession and trending along those lines so you see the number of companies cutting their dividendss as well and on top of that you see 58% of the oecd countries already so possible fourth quarter contraction, not a good sign. lori: economists -- [talking over each other] >> waiting for the official stamp. melissa: we are hearing, the first trust advisers, rising, but the big national bureau of economic research on average taking a year to call a recession. so we could be finding out down the road. cheryl: who better to get melissa: who better to get reaction than the ceo of the american trucking association who joins us exclusively. what do you think? is there signs of recession had or has already begun? >> we think we will slog through slow and economic times, and the storm in the northeast will be a drain this quarter, but a lot of rebuilding will take place
increase of obamacare, in the fiscal cliff, but when you look at data from the s&p you see the u.s. economy entering recession and you see that spike and the number of companies cutting dividends in 2009 at the height of the recession and trending along those lines so you see the number of companies cutting their dividendss as well and on top of that you see 58% of the oecd countries already so possible fourth quarter contraction, not a good sign. lori: economists -- [talking over each...
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the so-called fiscal cliff the economy is facing translates into some 600 billion in tax hikes and government spending cuts to take effect in the new year. franchise business entrepreneurs and small business groups say that threat is hurting growth. >> it is a dramatic impact. again it is all about risk and reward and you're not going to risk money if you have no idea what the government's going to do to you. >> i want to grow. i want to invest back into the community. and i'm just, i'm holding things back because of the uncertainty. >> big business ceo's are also growing more anxious about congress and the president being able to work out a deal. the business roundtable's new ceo, economic outlook survey shows only 29% of ceo's expect to add employees in the next six months while 34% expect to drop a in up number of workers. only 0% predict increases in capital spending that is down 13 from last quarter. fewer company leaders expect an increase in sales and growth over the next six months. before congress on a the president left town for the campaign trail, hear is the senate majority leader
the so-called fiscal cliff the economy is facing translates into some 600 billion in tax hikes and government spending cuts to take effect in the new year. franchise business entrepreneurs and small business groups say that threat is hurting growth. >> it is a dramatic impact. again it is all about risk and reward and you're not going to risk money if you have no idea what the government's going to do to you. >> i want to grow. i want to invest back into the community. and i'm just,...